Indonesia’s Angels Grow Wings

By

Resty Woro Yuniar

Oct 28, 2015 6:52 am ET

More angel investors are starting to hover over Indonesia. Earlier this month, one new angel-investor group launched and another nearly doubled its membership in the country, which has thus far seen only a fraction of the venture money that’s recently flowed to neighbors like China and India.

Angel-eQ Network, formed October 1, comprises 15 business luminaries, including Tony Fernandes, the CEO of discount airline AirAsia; Sandiaga Uno, the founder of one of Indonesia’s biggest investment firms; and local media mogul Erick Thohir.

Angel Investment Network, or ANGIN, a group founded in 2012 that focuses on seed funding for local tech startups, added 11 new members to its 15-person network, including executives from taxi giant PT Blue Bird Tbk and PT Modern International, which operates 7-Eleven minimarts in Indonesia.